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Below is an essay on "Apple" from Anti Essays, your source for research papers, essays, and term paper examples.

HARVARD

BUSINESS

SCHOOL

9- 708-480
REV: SEPTEMBER 8, 2008

DAVID B. YOFFIE MICHA EL SLlND

Apple Ine., 2008
In January 2007, three deeades after its ineorporation, Apple Computer shed fue seeond word in its name and beeame Apple Ine.' Wifu ti,at move, fue eompany signaled a fundamental shift away from its historie status as a vendor of the Macintosh personal computer (pe) lineo Mac sales remained vital to Apple's future, but fuey now accounted for less fuan half of its total revenue. Ayear and a half later, in June 2008, the company posted results fuat ratified the success of its leap beyond ti,e PC business: In ils fuird quarter, Apple earned a net profit of $1.07 billion on $7.46 billion in revenue, for a 38% inerease on year-ago quarterly sales. Annual results were also impressive. Sales in the 2007 fiscal year topped $24 billion, up 24% from fue previous year. (See Exhibit la-Apple Ine.: Seleded Financial Information, plus Exhibit lb and Exhibit le.) Investors, meanwhile, sent Apple's stock to new heights: Despite a sharp drop in early 2008, its share priee had risen more fuan 15-fold since 2003 and now hovered near its aH-time high. (See Exhibit 2-Apple Inc.: Daily Closing Share Priee.) Non-PC product Iines drove much of Apple's financial performance. The eompany's iPod line of portable music pIayers, together wiU, its iTunes Store, had upended the music business. With the iPhone, a multifunetion handheld deviee released in June 2007, Apple aimed to do fue same for the mobile phone market. The launch of fue iPhone 3G, in July 2008, involved major ehanges to fue offering-a revamped prieing model, a new retail channel advanced, and a platform for third-party applieations, along with 3G network serviee-that promised to make it still more eompetitive. "Apple Inc." was thriving to a degree that was seemingly far beyond the capacity of "Apple Computer." Vet eritiea! aspeets of the company's strategic profile had changed rather little. Although Mae...

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